SALES OF £3.3BN were racked up by Amazon.co.uk in the UK during 2011, but huge costs saw it pay just £1.8m in corporation tax during the year.
In a response to the Public Accounts Committee for more financial data relating to its UK operations, profits before income tax on UK sales equated to £74m, with various costs and expenses eating into the profit margin.
The company's UK accounts filed for the period show it paid £1.8m, with revenues of £20m.
In its response to the committee, Amazon asked for the information to remain confidential.
The committee has again called on HMRC to appear before it, in an effort to tackle marketed avoidance schemes. It is believed that HMRC chief executive Lin Homer will face questions on the tax affairs of its IT supplier, Accenture.
Sign up for Financial Director email alerts
Please enter your email below to receive your profile link
Search by job title, salary, or location - we only list senior financial roles
Accountancy Age has partnered with Home Learning College to offer you and your trainees a personalised learning experience with an all inclusive package
Join Financial Director and Infor to discover how migrating your ERP resource to the cloud can have a beneficial impact on your company’s profitability
Send to a friend